The Securities and Exchange Commission of Pakistan (SECP) has issued a consultation paper to seek feedback on areas of improvement in the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. Through this modification SECP aims to strengthen the regulatory framework governing takeover transactions of listed companies by enhancing transparency and introducing measures for safeguarding rights of minority shareholders, said a press release issued here on Wednesday.
The key areas of improvement include proposals for streamlining public announcement timelines, revising price determination criteria for frequently and not frequently traded shares, and enhancing disclosure requirements for acquirers and listed companies.—APP
